Tuesday, 4 July 2017

EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 04 JULY 2017

Soyabean trading range for the day is 2917-3033. Soyabean gained on expectation of good physical buying due to good rally in edible oils. Global soybean production in 2016-17 is seen at 351 mln tn, up 36 mln tn from the estimated output for 2015-16, due to upward revision in output by Argentina and Brazil. NCDEX accredited warehouses soyabean stocks dropped by 1209 tonnes to 52865 tonnes. At the Indore spot market in top producer MP, soybean dropped -21 Rupees to 2917 Rupees per 100 kgs.